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What is Direct Payment?
With Direct Payment, instead of presenting a paper check as
payment -- a check which you have to write and typically mail
-- an electronic transfer of funds is made directly from your
bank account. For example, if you set up a monthly utility payment
as a Direct Payment, the money you owe that utility is automatically
deducted from your bank account each month. Other types of payments
which can be Direct Payments include:
- mortgage
- credit cards
- insurance
- cable TV
- investment plans
- memberships & subscriptions
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